Local fuel prices are poised to increase once more, with gasoline expected to go up by P0.80 to P1.00 per liter and diesel by P0.40 to P0.60 per liter this week, according to an anonymous local fuel retailer. The projection is based on five-day average global trading rates, full-week Platts Singapore price benchmarks, peso-dollar exchange shifts, and changes in cargo premiums.
While crude oil and refined product prices have softened slightly amid easing tensions in the Middle East and looser supply tightness in Asia, costs remain on an upward trend. Last week, prices already rose sharply—up to P1.21 per liter for gasoline and P2.82 per liter for diesel. As of May 19–25, 2026, average prices in Metro Manila average P88.10 (RON 91), P82.70 (diesel), and P112.40 (kerosene), with no forecast given yet for kerosene.
Energy Secretary Sharon Garin noted global supply chains are stabilizing, though the government stands ready to intervene in fuel procurement should conditions worsen. It continues to supply previously purchased diesel to power cooperatives in off-grid areas dependent on diesel generators.
Regular price hikes directly raise transport, delivery, and operating costs for businesses and commuters, contributing to higher living expenses. The government’s preparedness to step in offers a safety net, especially for remote communities relying on diesel for electricity. Stabilizing global supplies is key to preventing steeper increases and easing pressure on household budgets and the broader economy.
